{"id":307448,"date":"2024-01-22T07:33:08","date_gmt":"2024-01-22T13:33:08","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=307448"},"modified":"2024-01-22T16:42:49","modified_gmt":"2024-01-22T22:42:49","slug":"kindred-group-on-verge-of-2-7b-takeover-by-frances-fdj","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/kindred-group-on-verge-of-2-7b-takeover-by-frances-fdj\/","title":{"rendered":"Kindred Group Verges on $2.7B Takeover by French Lottery Giant FDJ"},"content":{"rendered":"

Francaise Des Jeux<\/a> (FDJ.PA), the French national lottery operator, has made a US$2.67 billion move for Stockholm-listed online gambling giant Kindred Group<\/a> (KIND SDB).<\/p>\n

\"Kindred,
The Kindred logo at the company\u2019s HQ, above. Kindred’s shareholders are expected to accept an offer that would create a new European gaming powerhouse. (Image: Kindred Group)<\/figcaption><\/figure>\n

On Monday morning, Kindred\u2019s board of directors said in a statement it unanimously recommended that shareholders accept the all-cash deal. It values Kindred shares at SEK130 (US$12.47), a 24.4% premium on their value at the close of trading on Friday, January 19.<\/p>\n

In a note Monday, Regulus Partners suggested the real attraction of Kindred\u00a0to the former state-owned outfit was that \u201cit allows excess cash flow generated from a privatized state monopoly to be pumped into a ready-made competitive platform which the sclerotic, statist FDJ failed organically to create.\u201d<\/p>\n

The deal depends on 90% of Kindred shareholders accepting the bid and is subject to regulatory approvals.<\/p>\n

FDJ is the largest gambling operator in France. Previously a state-run company, the French government took FDJ public in July 2018 by selling off 50% of its ownership. As well as holding a monopoly on the French lottery, FDJ offers casino games and sports betting.<\/p>\n

Big Fish<\/strong><\/h2>\n

In November 2023, FDJ acquired Ireland\u2019s national lottery operator, Premier Lotteries Ireland. That made it the second-biggest lottery operator in Europe and the fourth-biggest worldwide.<\/p>\n

\n

Kindred, formerly Unibet Group, owns some of Europe\u2019s best-known online casino and sports betting brands, including Unibet and 32Red. But it’s endured a tough couple of years that saw it recently withdraw from U.S. markets<\/a> after its sports betting services failed to gain traction.<\/p>\n<\/div>\n

U.S. hedge fund Corvex is a major shareholder in Kindred (15%) and has been pushing for a sale since mid-2022. That\u2019s after the company reported a 30% decline in revenue, largely because it had been forced to withdraw temporarily from the Dutch market when that country ushered in its new licensing regime.<\/p>\n

Kindred Spirits <\/strong><\/h2>\n

Kindred Chief Executive Nils Anden said the deal would create a new European gaming powerhouse, well-positioned to rival existing giants like Entain and Flutter Entertainment.<\/p>\n

I believe that combining with FDJ, Kindred can accelerate the delivery of long-term strategic projects, continue to grow in core markets, and provide a trusted source of entertainment to customers,”<\/strong> he said in a statement Monday.<\/p><\/blockquote>\n

FDJ Chair St\u00e9phane Pallez added that the enlarged company would \u201cresult in a stronger strategic positioning\u201d for FDJ in sports betting. \u201cIn this market, Kindred is one of the leading operators, combining strong brands, best-in-class technology platforms, an attractive growth profile, and a committed approach to responsible gaming,\u201d she said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Francaise Des Jeux (FDJ.PA), the French national lottery operator, has made a US$2.67 billion move for Stockholm-listed online gambling giant Kindred Group (KIND SDB). On Monday morning, Kindred\u2019s board of directors said in a statement it unanimously recommended that shareholders accept the all-cash deal. It values Kindred shares at SEK130 (US$12.47), a 24.4% premium on […]<\/p>\n","protected":false},"author":36,"featured_media":307449,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33810,19,32093],"tags":[89586,89585,82074],"acf":[],"yoast_head":"\nKindred Group on Verge of $2.7B Takeover by France's FDJ<\/title>\n<meta name=\"description\" content=\"Francaise Des Jeux offers $2.67 billion for the Kindred Group in a deal to create a European gaming powerhouse.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/kindred-group-on-verge-of-2-7b-takeover-by-frances-fdj\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kindred Group on Verge of $2.7B Takeover by France's FDJ\" \/>\n<meta property=\"og:description\" content=\"Francaise Des Jeux offers $2.67 billion for the Kindred Group in a deal to create a European gaming powerhouse.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/kindred-group-on-verge-of-2-7b-takeover-by-frances-fdj\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-22T13:33:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-22T22:42:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/01\/Kindred.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"999\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Philip Conneller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@casinoorgphilc\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Philip Conneller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/kindred-group-on-verge-of-2-7b-takeover-by-frances-fdj\/\",\"url\":\"https:\/\/www.casino.org\/news\/kindred-group-on-verge-of-2-7b-takeover-by-frances-fdj\/\",\"name\":\"Kindred Group on Verge of $2.7B Takeover by France's FDJ\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/kindred-group-on-verge-of-2-7b-takeover-by-frances-fdj\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/kindred-group-on-verge-of-2-7b-takeover-by-frances-fdj\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/01\/Kindred.jpg\",\"datePublished\":\"2024-01-22T13:33:08+00:00\",\"dateModified\":\"2024-01-22T22:42:49+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b\"},\"description\":\"Francaise Des Jeux offers $2.67 billion for the Kindred Group in a deal to create a European gaming powerhouse.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/kindred-group-on-verge-of-2-7b-takeover-by-frances-fdj\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/kindred-group-on-verge-of-2-7b-takeover-by-frances-fdj\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/kindred-group-on-verge-of-2-7b-takeover-by-frances-fdj\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/01\/Kindred.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/01\/Kindred.jpg\",\"width\":999,\"height\":667,\"caption\":\"The Kindred logo at the company\u2019s HQ, above. 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